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November 04, 2008
 

MBA Express


NEWS  THIS WEEK'S TOP STORY

Campus Condos: The Payoff Is Shrinking

The calculus of owning off-campus housing has changed as home sales have slowed and expectations of fast appreciation have disappeared



  MORE TOP STORIES
B-SCHOOL LIFE
College Tuition Just Keeps Climbing
As families are squeezed, public colleges look more attractive—but beleaguered state governments may need to hike tuition even further


50 Most Expensive Colleges
College costs are again on the rise. According to a College Board report released on Oct. 29, the average published cost of annual tuition and fees at private four-year colleges is $25,143, up 5.9% from last year

B-SCHOOL NEWS
UCLA B-School Sees a Surge in Applicants
Going back to school is a profitable use of hard times, says dean Judy Olian. And she thinks many of the applicants may be from Asia

MBA JOURNAL: INTRODUCTION
Finding the 'Through Line'
"MIT Sloan's approach to leadership development and its balance between the theoretical and the practical resonated with me"

MBA JOURNAL: INTRODUCTION
The Value of an MBA
"As an entrepreneur, I've often been asked why I need a business degree. The answer is simple: it's a means to fill in my knowledge gaps"

MBA JOURNAL: INTRODUCTION
Life Becomes a Blur at Chicago GSB
"A month into class and already there isn't enough time in the day for all that needs doing"

LIVE CHAT
The Best Business Schools
Find out which schools top BusinessWeek's MBA rankings on Nov. 13 at 5 p.m. ET

 B-SCHOOL FORUMS
Visit BW Online's interactive forums for wide-ranging discussions about management education. Search through over 1,359,000 posts for topics that interest you. Join in today! Here are a few samples of recent messages:

Getting into B-School: DUI Expungement

From: CarynG426
To: ALL

Five years ago, I got a DUI and I am now having it expunged. How do schools view this? I do know that many schools ask if you have been convicted of a felony, misdemeanor or and infractions other than traffic. The law says that if you have something expunged you can legally say you have not been convicted. I certainly don't want to state that and then been denied admission for not telling truth. Does anyone have knowledge or experience in this situation? Do admissions automatically reject you because of this?

I would like some honest feedback.
------------
From: NewToCA
To: CarynG426

More importantly, how do you get it expunged? My application could use a little "DUI expungement." Although I've found that most schools only ask for felony charges, not misdemeanors (except, of course, my top choice. They ask for any conviction).

I'm obviously not qualified to answer this, but depending on the circumstances (which couldn't have been that bad if you were able to get it expunged), I don't know that something happening 5 years ago is gong to make or break you. The obvious problem with the DUI is the exposure of a significant judgment problem (at least on one occasion). If your record shows that was an anomaly, I have to think it won't kill your app (for my sake I hope it doesn't).
----------------------------------------------------------


Finding a Job: Euro-MBA + U.S Market = ?

From: mba_16
To: All

All,

Can anyone share their experience finding jobs with European MBA such as INSEAD, LBS or IMD?? Are these best for those who wish to work in Europe?

Thanks
Raouf
------------
From: tmino
To: mba_16

So are you asking if a top EU MBA can land you a job in the US? It's definitely feasible, though you're of course at a great disadvantage compared to top US MBAs. One alumni I know mainly got his US BCG job by using the career services of his exchange school in the US.
------------
From: mba_16
To: tmino

My questions really is how uncompetitive are EU MBA graduates in the US market? Does INSEAD, IMD or LBS mean little to US companies?

Are there any alumni statistics out there available about job placements, companies, salaries, countries, etc. for Top EU MBAs?

Thanks
------------
From: tmino
To: mba_16

As mentioned, you will have a harder time. Large recruiters will have heard of INSEAD and LBS, but typically won't come to campus to recruit for US positions.

Yes, check the employment reports, e.g. LBS: http://www.london.edu/assets/documents/PDF/EmploymentReportMBA2007.pdf

Here, you will see that only 6% work in N. America after graduation. This can have two reasons though:

1) It's hard for EU MBAs to find a job in the US
2) Most actually don't even look for jobs in the US

Either way, if you definitely want to work in the US DIRECTLY after graduation (a few years out, it won't really matter where you got your MBA from), then apply to US MBAs.
------------
From: tmino
To: mba_16

I think a lot of people might disagree that a 2nd tier US MBA is a waste of money. It probably just depends on your situation. For some who already have a great career it might be a waste of time (and lots of money). Others can use it to boost their careers (or change industries).

I personally would prefer an MBA from INSEAD/IMD over any 2nd tier US MBA, just because INSEAD for example has a great GLOBAL reputation. Also, the network you build will be way better than at any 2nd tier US MBA. If you want to work in the EU/Middle East then of course you want to go to an EU MBA. If you come from a top EU MBA, then nationality is not a concern. The majority of students are non-EU nationals and 90%+ get a job after graduation. I'm at LBS btw.

 B-SCHOOL BLOGS
View over 4,500 blogs in our MBA Blogs community today! Share your journey, meet new friends, and expand your network. Connect with MBA students, applicants and alumni from Columbia, Kellogg, Notre Dame, and more! Become a blogger today! Here's an excerpt:

Loyola's Strategic Plan
By Susan Miltenberger
Comments: 0 Stars: 0


The President just announced Loyola's new strategic plan which is based around one goal:

Loyola will be the leading comprehensive Catholic university in the nation.

This semester, we have talked a lot about vision and how strategy and organizational alignment can help to deliver on a vision. What strikes me most about Loyola's new plan is that it is built around a very compelling goal...the kind of goal that makes you gulp and makes the hair on the back of your neck stick up with excitement. "Loyola will be the leading comprehensive Catholic university in the nation." Certainly sounds like a rally cry to me.

I'm in!...Now what?

Of course, an aspect of goal setting that comes up frequently in our classes has to do with connecting everyone at the organization to the goal and building the right systems to support the vision. As a current student (and future alum), I'm very excited by this new plan. And I hope that the college is able to succeed where many organizations seem to fail - getting buy-in from everyone and helping to connect day-to-day operations to the long term vision.
FOR THE FULL VERSION


 WORDS OF WISDOM
Admissions directors offer advice on choosing references
-------------------------------------------

Letters of recommendation are meant to provide additional information to the Admissions Committee on who the candidates are. As applications are evaluated holistically at our school, references are taken very seriously in making the final admission decision. Candidates may come across as solid in terms of previous academic performance, GMAT as well as work experience. The Committee will examine the references to find out if it reinforces the same impression that we get from the overall profile of the candidate. We are more interested to read letters of recommendation which are written by people who know you fairly well either academically or professionally and able to identify your abilities, development areas as well as management potential to recommend you. References that provide specific examples of your character, skills and accomplishments and reinforce your motivation for attending b-schools and how you will fit into the particular schools you are applying to. It is important to explain to your referees about the MBA education and the offerings of the b-schools you are applying to as well as your motivation to study at those particular schools. Remind the referees of those activities and projects, which you have achieved successfully. Finally, you should choose someone who you can trust to deliver a thoroughly written letter of recommendation on you. --Connie Tai, RSM

Select people who know you well, whether it be professionally or academically. Don't just get a reference for the sake of getting a reference. --Reena Lichtenfeld, USC (Darla Moore)

The most meaningful references come from current or previous supervisors - people who have had the opportunity to both observe and evaluate your performance and social skills in a work environment. I am frequently asked if it is appropriate to submit more than the required number of references. One or two extra references are fine, as long as all of the references are strong. In other words, don't think that more is necessarily better - two strong letters go a lot further than four mediocre ones. --Laura Parks, University of Florida

It is best to choose someone with whom you have worked directly. Do not pick friends or just colleagues, but someone you reported to long enough so that this reference can comment on what you have accomplished and what you can achieve. Also get a reference from someone who is external to the organization (i.e., a client). --Admissions Team, Theseus International Management InstituteBR>

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  B-School Insider
Dear Reader:

As the economic slowdown begins to bite, the cost and value of higher education - be it an MBA or an undergraduate degree - is coming under scrutiny.

This week, our lead story kicks off a new special report, The Cost of College, which will continue online at www.businessweek.com/bschools and here on MBA Express next week. The series will take a look at some of the key cost drivers of a college education, such as housing, and strategies for saving a few dollars.

This week also marks the appearance of the first our new class of MBA Journal writers. These writers, and those who introductions will appear in coming days, have volunteered to share the ups and downs of their MBA journeys with BusinessWeek readers. We hope you enjoy their reports over the months ahead.

And just a reminder - our 2008 rankings of full-time MBA programs will launch with an online countdown on Nov. 13 at 5 p.m. EST. We hope you can join us.

Until next week,
Phil Mintz
B-Schools Channel Editor


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  Tools & Features

MBA Insider
Check out this feature-rich area for advice and tools that will help you choose the right B-school -- and develop a strategy for getting accepted

Full-Time MBA Rankings & Profiles
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The Best Undergraduate B-Schools
Undergrad business programs are getting MBA-like respect, and competition to get into them is hotter than ever. Here's how the top schools stack up

B-School Calendar
BusinessWeek.com's scheduling tool will give you an idea of upcoming events at B-schools in the U.S. and around the world. You'll find information on admissions receptions, application deadlines, networking events, alumni events, conferences, and much more.

EMBA Rankings & Profiles
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Exec Ed Rankings & Profiles
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